Contract For Deed Eviction
I have about 7 houses sold on contract for deed. If the situation arises how do I get someone out of the home that isn't paying. Do I use typical ecviction proceedings or do I have to go through the foreclousre process? I live and do business in the State of Alabama.
Best to have researched the answer to that question first before selling on CFD in Alabama.
Quote:
On 2004-09-13 13:10, LeaseOptionKing wrote:
Best to have researched the answer to that question first before selling on CFD in Alabama.
That was pretty rude... True but rudely put. The answer is to contact a competent Atty in your state. In Ohio, as long as they have been there 5 yrs or less and have less than 20% equity, then we can evict. After that time it is a foreclosure and we must use the Foreclosure methods.
Good Luck,
Shawn(OH)
You have a valid question which needs a respectfully answer. If we have so many dealers of knowledge lets here the valued answer. As a matter of fact I am interested in the answer too.
Alright Craig,
You would like a respectful and valued answer. Let me give it my best shot.
Respectfully, LOK is correct. This is a question that should have been asked, and properly answered, before an investor entered into a CFD. More importantly, it should have been asked, and answered, by a local real estate attorney, preferrably run that is at least fairly good at what they do. Most importantly, it should have been specificly spelled out within the contract as to how a "removal" would take place (either eviction or foreclosure) and under what grounds that removal could happen.
Unfortunately, it seems that none of those happened. At this time, soutimber should take his contract to a local real estate attorney and find out exactly what he can or can't do with it.
In other words, respectfully, no one here can really answer the question, because we don't know how the contract was written, what specific terms were included (or excluded), or whether there is even an actual contract.
Hopefully, soutimber will contact a local attorney, find the answer and post an update and then we'll all know how it turned out.
Roger
Wasn't trying to be rude. Lesson for all the other readers: Never use a CFD without first knowing if you will be able to evict or must foreclose in your state.